23.09.202116:33 Forex Analysis & Reviews: AUDUSD has potential to reach 0.7570.

AUDUSD has formed a higher low around 0.7230. Price is now moving higher. As long as price does not break below 0.7230, we should expect AUDUSD to make an equal upward movement similar to the one we saw in mid August.

Exchange Rates 23.09.2021 analysis

Red lines - Fibonacci extension targets

AUDUSD is turning upwards. If the low is in and price does not break recent lows at 0.7230, we should see an upward move starting and unfolding over the next couple of weeks. The upside target is at 0.7575 where we find the 100% extension target of the first upward movement back in August. This is a good risk reward trade opportunity as the stop for bulls is the recent low of 0.7230.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2022
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